| http://www.w3.org/ns/prov#value | - Though Malkiel acknowledges that it is downside risk that is important (not upside), he shows that for indexes such as the S&P 500, the distribution of volatility is normal (meaning upside volatility is similar to downside volatility).If you accept this definition of risk which lies as the basis for MPT, then there are some important implications.
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